Table 8 The magnitude of FinTech company profitability
From: Entrepreneurial, institutional and financial strategies for FinTech profitability
Variables | Financial information | FinTech variables | All | Profitable = 1 | Profitable = 0 |
|---|---|---|---|---|---|
Size | 6.399*** | 5.856*** | 0.538 | 36.986** | |
(1.429) | (2.213) | (1.064) | (16.087) | ||
Asset structure | 0.211** | 0.176** | 0.178*** | − 0.0936 | |
(0.0881) | (0.0860) | (0.0566) | (0.110) | ||
Liquidity | 4.21e−05 | − 4.93e−05 | − 0.000306*** | 3.73e−05 | |
(0.000158) | (0.000149) | (9.25e−05) | (0.000144) | ||
Solvency | 0.00306*** | 0.00305*** | 0.00109*** | 0.00454*** | |
(0.00109) | (0.00107) | (7.32e−05) | (0.000895) | ||
Leverage | − 1.48e−06*** | − 1.51e−06** | − 1.45e−05 | − 2.10e−06** | |
(3.54e−07) | (6.20e−07) | (9.39e−06) | (8.80e−07) | ||
Efficiency | 0.00251* | 0.00251* | 0.00029 | 0.00642*** | |
(0.00146) | (0.00135) | (0.00026) | (0.00208) | ||
Entrepreneur | − 0.159 | − 0.148 | 0.0430 | 0.0648 | |
(0.121) | (0.129) | (0.0729) | (0.190) | ||
Number of partner founders | − 0.0810* | − 0.0834* | 0.000155 | − 0.0927 | |
(0.0471) | (0.0473) | (0.0270) | (0.0671) | ||
Single entrepreneur | − 0.0551 | − 0.0807 | − 0.0223 | − 0.436* | |
(0.107) | (0.0953) | (0.0514) | (0.217) | ||
Mobile app | − 0.158* | − 0.126 | − 0.0391 | − 0.199* | |
(0.0884) | (0.0779) | (0.0490) | (0.120) | ||
Digital tracking | − 0.000158 | − 0.00116 | − 0.000631 | − 0.00113 | |
(0.00154) | (0.00129) | (0.000770) | (0.00230) | ||
Digitally tracked regionally | − 0.146** | − 0.150** | − 0.0314 | − 0.153** | |
(0.0708) | (0.0588) | (0.0458) | (0.0686) | ||
Funding | − 0.198** | − 0.130* | − 0.0753 | − 0.0640 | |
(0.0933) | (0.0757) | (0.0496) | (0.113) | ||
Public subsidy | 0.0794 | 0.0245 | − 0.0104 | 0.0117 | |
(0.0780) | (0.0731) | (0.0490) | (0.121) | ||
FinTech accelerator | − 0.00521 | − 0.0138 | − 0.0203 | − 0.0696 | |
(0.233) | (0.246) | (0.0915) | (0.364) | ||
Bank investor | − 0.0344 | − 0.124 | − 0.181** | − 0.0495 | |
(0.144) | (0.137) | (0.0860) | (0.144) | ||
Tech cluster | − 0.124 | − 0.00745 | 0.104* | 0.213 | |
(0.101) | (0.122) | (0.0534) | (0.286) | ||
Time trend | 0.00132 | − 0.00431 | 0.0113 | 0.0160** | − 0.00995 |
(0.0101) | (0.0121) | (0.0112) | (0.00666) | (0.0168) | |
Observations | 706 | 706 | 706 | 288 | 418 |
Number of FinTech | 170 | 170 | 170 | 95 | 149 |
Year | Yes | Yes | Yes | Yes | Yes |
Fixed Effects | Yes | Yes | Yes | Yes | Yes |
Clustered standard errors | FinTech | FinTech | FinTech | FinTech | FinTech |
R2 | 0.5464 | 0.4550 | 0.552 | 0.7299 | 0.4786 |